Business ethics topic 3

Maintaining trust between stakeholders and organizations is ________.

• A. the stakeholder’s responsibility

• B. an ethical minimum

• C. an ethical maximum

• D. a social contract

Companies are required to provide amenities to their employees to fulfill the social contract between management and employees as stakeholders.

• True

• False

Choose your favorite brand. List at least five of its key stakeholder groups.

A shareholder is a stakeholder who ________.

• A. holds stock for investment

• B. has a general interest in the fate of all publicly traded companies

• C. focuses on the means by which firms get their products to market

• D. always purchases the product or service of a particular company

A stakeholder claim ________.

• A. is usually a complaint

• B. is always financial

• C. is any matter of concern for the corporation or company

• D. is the same as a lawsuit

Explain how the normative approach to stakeholder theory informs the instrumental aspect and the descriptive approach.

What is the most important quadrant in the influence/interest matrix, and why?

In correct order, the stakeholder management steps adapted from the approach of the MITRE consulting firm are to ________.

• A. build trust, identify stakeholders, prioritize claims, visualize changes, and perform triage

• B. build trust, identify stakeholders, gather and analyze data, present results, make changes, and prepare a communication strategy

• C. build trust, identify stakeholders, gather and analyze data, present findings to management, and communicate key messages to stakeholders conveying the company’s appreciation of them

• D. identify stakeholders, gather and analyze data, make changes, and present results

Stakeholder management practice ultimately is about valuing stakeholder contributions to a firm, no matter how significant, inspired, or influential that contribution might not be.

• True

• False

Name the three components of the triple bottom line